Standard&Poor's Ratings Services raised its rating on Iowa Finance Authority's (IFA) single-family mortgage bonds 2007 series G, M, and N to 'AAA/A-1+' from 'AAA/A-1' following the substitution of four separate standby purchase agreements (SBPAs) provided by the Federal Home Loan Bank of Des Moines (AAA/A-1+) for an existing SBPA from Dexia Credit Local (A/Stable/A-1). Additionally, Standard&Poor's affirmed its 'AAA' long-term ratings on the authority's single-family mortgage bonds. The 'AAA' rating on the single-family mortgage bonds reflects the following strengths: The extremely high quality of assets supporting the bonds, which consist primarily of Ginnie Mae and Fannie Mae MBS, and reserves; Investment agreements with providers whose ratings are mostly commensurate with the rating on the bonds; Extremely strong
